Aesthetic Medicine Market is Representing 9.71% Growth by 2032

Published Date : 09 Apr 2024

The global aesthetic medicine market size was exhibited at USD 83.27 billion in 2023 and is anticipated to touch around USD 191.70 billion by 2032, expanding at a CAGR of 9.71% from 2023 to 2032. The aesthetic medicine market is driven by the propelling and increased desire for aesthetic procedures.

Aesthetic Medicine Market Size and Growth Rate From 2023 to 2033

Market Overview

The aesthetic medicine market deals with products, machines, and services related to aesthetics and beautification. This market is attributed to the rising societal focus on individual appearance and growing acknowledgment. This shift in cultural standards, merged with an increasing awareness of the diverse cosmetic solutions, has played an important role in boosting market growth. Aesthetic medicine is a bunch of modern medicine that focuses on changing the cosmetic existence of monitoring conditions such as sunspots, wrinkles, unwanted hair, and acne via minimally invasive treatment.

The market is anticipated to gain from a demand for preventive processes and the growing awareness of the anti-aging benefits of injectable medications. Adults are very conscious about their physical health; this has increased demand for aesthetic operations. The growing technological advancements and major market players’ strategic initiatives are anticipated to drive the aesthetic medicine market growth.

Increased demand for aesthetic procedures fuels market growth

The aesthetic medicine treatment helps in achieving the perfect dream body and facial features with less struggle within a short duration. Ultimately, this aesthetic medicine process will give perfect and extended period results. It is difficult for people to maintain body shape and facial structure due to natural aging, which is why people opt for aesthetic medicines. Changing beauty standards, bullying, and other factors also contribute to the use of aesthetic procedures, especially in teenagers.

However, after-procedure complications and customer complaints may restrain the growth of the aesthetic medicine market. Many complications may increase due to poor care after the process, due to the improper treatment procedure, individual patient response to treatment, and wrong choice of device. Aesthetic doctors may have to face customer complaints many times due to unexpected or expected complications. Rashes, allergies, inflammation, burning sensation, and injection-related bruising are the common problems faced by aesthetic surgeons.

Aesthetic Medicine Market Report Scope

Report Coverage Details
Market Revenue in 2023 USD 83.27 Billion
Projected Forecast Revenue by 2032 USD 191.70 Billion
Growth Rate from 2023 to 2032 CAGR of 9.71%
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Aesthetic Medicine Market Companies

  • Dentsply Sirona
  • Allergan Aesthetics
  • Hologic, Inc.
  • Candela Medical
  • Solta Medical
  • Lumenis Be Ltd.
  • Johnson and Johnson Private Limited
  • Cynosure
  • Alma Lasers
  • Galderma
  • AbbeVie Inc.

Recent Development by AbbeVie

  • In March 2024, AbbVie announced that it would move the needle on ethics. It is an allergen aesthetics company. The aim of this announcement is to ensure integrity in meeting the expected rise in global demand and the need for industry-wide transparency for aesthetic treatments.

Recent Development by Allergen Aesthetics

  • In May 2023, in China, Deloitte Consulting, in collaboration with Allergan Aesthetics, launched the China Medical Aesthetic Industry Outlook 2023. This launch aims to provide strategic support and up-to-date trends to hospitals and practitioners in China for the sustainable development and high quality of China’s aesthetic medical market.

Regional Insights

Asia Pacific is estimated to grow fastest in the forecast period. In this region, there is a growing focus on aesthetic appearance, the growing adoption of technologically advanced products, and the increasing demand for aesthetic medicine. Countries like South Korea, China, and Japan have very strict beauty standards, which is why these countries are becoming the hub for clinics that dedicatedly cater to people who want aesthetic procedures to be done. India is also emerging as a country boosting the need for aesthetic medicines due to beauty standards followed in the West and the entertainment industry.

In India, the aesthetic medicine market is growing at a great pace. Permanent hair removal is the most popular aesthetic treatment in India. Botox and filler treatment acceptance has been growing in India. In the next 5 years, they are expected to become the most popular treatment. In skin-lightening treatments in Asian countries, including India, people are also becoming popular due to racism and discrimination.

  • In December 2023, in Mumbai, SKUCCII launched India’s first luxury super clinic brand of body, hair, skin, and aesthetic gynecology. SKUCCII has officially opened its door for invention in aesthetic gynecology.

North America dominated the aesthetic medicine market in 2023. The well-developed medical infrastructure, growing adoption of AI technologies and robots in surgical treatments, higher healthcare spending, rapid geriatric population, and appearance of favorable government initiatives are some of the most significant factors that have enhanced the growth.

  • In June 2023, DrFirst partnered with BoomerangFX for the launch of E-prescribing for aesthetic medicine practices. The e-prescribing practice will be implemented all over North America.

In the U.S., Americans provide the best aesthetic medicine treatment to their patients. America has some trending areas in aesthetic medicines that are likely to have a vital impact in the future, such as advancements in understanding the microbiome, equitable treatments for all skin types, focus on body positivity, Gen Z, and pairing minimally invasive and surgical procedures. These factors help to grow the aesthetic medicine market in the United States.

In Canada, there are various medical aesthetic processes, from Botox to laser treatments, and each treatment has unique benefits. Aesthetic medicines have become a growingly popular way for Canadians searching for non-invasive approaches to developing their presence without undergoing any major surgery and recovery times. With competitive prices on treatments like laser therapy and Botox injections and with a highly regulated healthcare system, preferring an aesthetic medicine in Canada may be one of the decisions Canadians make.

  • In March 2024, L’Oreal Canada announced the launch of the SkinBetter Science product. This is an aesthetic medicine skincare brand. They have added this brand to the L’Oreal Dermatological Beauty division.

Market Potential and Growth Opportunity

Advancement in Technology

The future of aesthetic medicine is likely to include continued developments in techniques and technologies. This could include the advancement of more cost-effective and less invasive processes, such as artificial intelligence and the use of robotics in aesthetic surgeries. In addition, there may be a high focus on lifestyle factors tailored to individual genetics and personalized treatments. Noninvasive treatments such as laser therapies and Botox injectables are also expected to become more effective and advanced treatments. Overall, the future of aesthetic medicine is likely to prioritize patient satisfaction, natural-looking results, and safety. In addition, the high importance of simplifying imaging workflows and these technological advancements will drive the aesthetic medicine market opportunity.

Aesthetic Medicine Market News

  • In April 2024, in New York, Dr. Darby Koh launched Koh Aesthetics in aesthetic medicine. Koh Aesthetics has marked an innovative development in the aesthetic scene, globally and domestically.
  • In February 2024, Galderma launched the beauty product NEXT in the aesthetic medicine industry. This NEXT by Galderma provides a future perspective on the aesthetic medicine industry.
  • In March 2024, BTL, the Aesthetic company, launched the 4-in-1 device. This innovative device is designed to address body, face, skin, and intimate health problems. This device was available in Malaysia for medical professionals searching for a modern solution to fulfill the varied medical and aesthetic demands of their patients.

Market Segmentation

By Procedure Type

  • Non-Invasive Procedure
    • Botox Injections
    • Microdermabrasion
    • Soft Tissue Fillers
    • Laser Hair Removal
    • Chemical Peel
    • Others
  • Invasive Procedure
    • Liposuction
    • Nose Reshaping
    • Breast Augmentation
    • Tummy Tuck
    • Eyelid Surgery
    • Others

By Product Type

  • Energy-Based Devices
    • Laser-based Aesthetic Device
    • Radiofrequency (RF)-based Aesthetic Device
    • Light-based Aesthetic Device
    • Ultrasound Aesthetic Device
    • Others
  • Implants
    • Facial Implants
    • Breast Implants
    • Others
  • Anti-Wrinkle Products
  • Botulinum Toxin
  • Dermal Fillers
  • Others

By Application

  • Surgical
  • Non-Surgical

By End-User

  • Medical Spas and Beauty Centres
  • Hospitals and Clinics
  • Ambulatory Surgical Centers
  • Home Use

By Gender

  • Males
    • 18 years and below
    • 19-34 years
    • 35-50 years
    • 51-64 years
    • 65 years and above
  • Females
    • 18 years and below
    • 19-34 years
    • 35-50 years
    • 51-64 years
    • 65 years and above

By Route of Administration

  • Oral
  • Topical

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